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About the talk


About speakers

Mitchell Moos
CEO at Crypto Briefing
Cameron Dennis
Developer Relations at Near Inc
Jay Kurahashi-Sofue
VP of Marketing at Ava Labs
Francesco Melpignano
Director of Business Development at Kadena

Cameron Dennis is the President and Founder of the Blockchain Acceleration Foundation (BAF), a 501(c)(3) nonprofit focused on expediting the creation and adoption of a user-owned internet. Since learning about Bitcoin in 2013, he co-founded UC Santa Barbara’s blockchain club, worked as a blockchain analyst for a boutique venture capital firm located in Santa Barbara, ran dozens of meetups, helped launched the first university-accredited technical blockchain course at UCLA, organized a few blockchain conferences, built curriculum for the first accredited blockchain course at UCSB, and much more. He is most interested in creating the first automated, self-sustaining, and tax-exempt 501(c)(3) that is intended to accelerate blockchain education and adoption.

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Jay Kurahashi-Sofue is the VP of Marketing at Ava Labs. Prior to Ava Labs, he was the Head of Marketing at Fluidity and AirSwap and also was a strategist for Ogilvy’s brand and digital transformation consulting practices. Jay co-founded the first blockchain marketing group at Ogilvy and is the co-founder of BlockMarketers, a virtual and in-person community for marketing executives in the blockchain industry.

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Everybody. Hello and welcome. So not Greg Francesco from sailboat there. One. Hey guys, from Francesco running business development at kadena Air One. You are one that's in a group of work and we managed to scale through for them to do you. And then we have Jay from Apple apps. Everyone VP of marketing at Apple ABS where we're currently building there one called Avalanche. You guys may have heard of it. Proved a steak protocol with smart contracts. That's kind of the priests. Take away their so good to be here. Deborah Dennis

run. Grants, an ecosystem at in your foundation on protocol, that is very easy to build on super simple to use and I'm probably secure a double-double and he has to be here. Yeah. So to start us off, I want to ask a quick question cuz people are probably familiar with the two big layer ones between a theorem. So who here owns at least $50 of it there in just to get a quick poll. All right. We got a lot of people in Syria in the audience. And now the question, how many of you think that etherium will be replaced? As the number,

one layer one in 5 years. I thought about half of the people that, that pulled etherium. So, let's see if we can get that number up after talking to a few of these people that have insidestl are ones. So to start off, nice and easy. What are the main problems that we see with leather ones like Bitcoin in aetherium. And what are your project trying to do to solve that? So first off is like, Gatsby's, it's super expensive. But mainly the thing that is most compelling to me as user experience because right now I think there's around I think like point eight million

active, but that's just a tiny little sliver of what's possible here. No, we're going after like an all of Beyonce's fans. She has like 50 million plus fans. Know. We need to make it incredibly easy for them to get on board about 3 and all sorts of Key Management. So I think I stay just like a seasoned, use the user experience. What do you say? Jay Echo that sentiment. But I think with with you a little bit further from the application layer, all the way down to the protocol are so Cassie is like you mentioned a transaction finality

transaction. Through put all of these performance metrics. I think you're super important on the bottom layer. I think everyone has probably experienced trying to wait for the metamask to send a transaction on aetherium. Not the best experience. Think about web24, example, when a website doesn't load after a few seconds, you mediately bounce. It's going to be the same with web free. And so I think all of us put together, we're trying to build that experience to make sure that you have something that is compatible with that web to experience. That's kind of person. When you move up

there. While you have applications, you'll have infrastructure. While it's these types of tools, really need to help the user, understand what they can do. It's a little bit absurd right now in the state that we are in. Where you guys all probably sign up for a wallet, but there was no instruction whatsoever on how best to connect to the network that you need to connect you. There's no instruction on which applications you could be using or why you should be using them. I think that's what we had. Ava, labs are trying to make this holistic experience. So if you sign

up with a wallet, there's a seamless onboarding process for you then get spit out into it app store and it goes, all right. Well, if you want to use Ave, but here's why Ava is really important for your day. Today. If you want to lend Lend-Lease Act, for example, or on the other side, if there are 10 ft collateralization platforms. Here's what you can do with your idol. And if these it's not just for buying and selling but you can maybe use it to take out stablecoins once you use them as collateral. So just really simplifying that you ex and hopefully let's call it. 3 years. Maybe 23

years will probably get to that point where we're no longer dealing with all these complexities. And we're at least on a maybe a light jog, perhaps. So I've heard these and end-user experience and then developer experience. Princess, I'm going to say, I definitely agree with my fellow panelist the same, but a lot of it scales from comes from having, Larry one that actually scales up, you need to be able to, you know, if we assume that most users using into the darkening, to Rocco blogs in at some point, in the next 2 years, using all these new products. Do

you know what? This transaction volume goes up if you're under line blocks and then scale to meet this, then you're only kicking the ball down the line and turns Gatsby and things like that because even if you can today, can scale up to thousands of transactions per second. Eventually. Through both probably going to get so damn, the Gatsby's will go. If it's not a problem with it, like if you're in and that used to be an other benefits. Compatibility abstract away. The fact that users have to pay for gas. So if you're doing

any apps that aren't necessary transacting with money, it's going to be extremely annoying for forget how to set up Beyonce fan. That used to go to some exchange of it. And I'm assuming they're for most normal people, you've lost like the fast majority of them for this process, right? People to deliver this old to experience. So, I mean people been making the same criticisms about aetherium since 2017 and has been many layer one protocol that say they're going to fix these issues like many of you probably remember, remember else were they

raised 4.1 billion dollars in 2017. The biggest Ico at the time and perhaps still the biggest crypto fundraise to date and they were a flop Tron cited, similar issues. There's plenty of Larry ones that have tried to challenge aetherium inside. These are the fundamental factors that are going to impede Mass adoption, but they weren't successful and I want to get your opinion on. Why you think this new cohort of layer ones that came out in 2018 and 2019 have a better chance of success then EOS. I think it starts with, you know, the applications are finally possible to create on something like

near that weren't really even that possible on EOS. I mean, I actually was a participant like an EOS hackathon like 3 years ago or so. And you know, the SDK is absolutely terrible. Haitian crap, the tooling wasn't there to know where things like near the standards. We have everything that you would possibly want in order to deploy things spanning from nearly 7 ft marketplaces and also like more of us Grant programs. So we've learned the lessons that, you know, he owes b c and d o c, I forgot. And this is actually, this is a great conference

that wants about 2 weeks ago, call funny the comments by protocol labs. This is one of the most important things for layer 1. Blockchain foundations to deal with is how do you distribute these multibillion-dollar treasuries? And so with with me, are we have a fast-track program? We can hop on a call with somebody. They understand what you're building. Understand Milestones, you go through technical due diligence and get 50k within a week. And so we're deploying capital on scale of 800 million-dollar grants program outside of that million-dollar look.

And a great experience. I think for us and I don't know if you could is today, Anna evm compatible to, okay. Well then maybe just for an avalanche. But the idea that is really works for Avalanche and a lot of these evm chains is not to reinvent the wheel and Zoe VM is the most popular smart contract computation engine right now and it works. And so instead of actually creating our own system. Now the idea is okay. Well, maybe I'm exhausted. Let's just pour that over and have that scale on Avalanches consensus protocol. You effectively have Miriam experience that has

existed since its launch in 2015, but just at a much more highly, scalable Manor, where transaction fees or just spent $2 transaction finality happens in under 1. Second. These are things I can happen right now in avalanche. And I think the last component that we really needed is an interoperability bridge and I know interrupt is this kind of work that gets thrown around. I've heard it since the beginning of my professional and Crips are in 28 2015, but I think right now with interoperability all the infrastructure like I mentioned before is there to make sure that it seemed low walkthrough

and crop cross the bridge effectively. So now you're seeing liquidity, come over from aetherium to Avalanche and just throw out starts in August this past year. Avalanches smart. Contracts, ecosystem had about two hundred million total value locked. Today. We have about 22 billion and probably 4 or 5 months ago. Now with the bridge, there's many bridges but the bridge that I'm reference reference in which is the Avalanche Bridge. There's about seven billion liquidity that has crossed over from aetherium to Avalanche and is now on Avalanche. So I think we're going to continue to

see that Trend move forward as more and more people understand the choices that they have and not just about being stuck on a slow or a chain and with high transaction transaction cost. Yeah, awesome. In first thing is, it's, it's great to have other layer ones in the game, innovating the space and pushing everything forward, regardless of the approach taken, you know, I think companies that came before this generation layer ones, probably didn't have the best motives or intentions or even sent you a technical know-how to pull off these grandiose Visions. I think

we're finally getting to a group where there's somebody like me are like Avalon. So, let's go on all the other like, bigger latest generation later. Once they're actually pushing the space forward. And finally, delivering, all these promises that haven't been talkin about since the first, the first blockchain taking the majority of the value in the users and then lots of smaller ones. Do see it as a fragmented Market with dozens or maybe even hundreds of layer ones competing for market share. Or is it going to be like an oligopoly

like internet service providers were, there may be a handful of widely used ones in Customer not that relevant. This is really interesting because like first regarding TV all today, till the value locks for those. There's a lot of mercenary, Capital out there, you know, $29 or even trying to Chase Field that is where he is. And then the second thing is about architecture. So really that I think the three types of architecture that are good for really is a Shard of blockchain switch near is

kind of scale for Infinity. The second one is like zero knowledge base layer to things like starkware and seek a sink. And the third one is where Solano is and that's like they have proof of History. Buy card. We're facing a patient's will sort of lead long-term adoption. And I think you know near right now where the first scalable watching live on test with Richard's. This is a computer science feet. Like I know it's so exciting. Traders and people but this is something that has been like in research for decades and we've done it

today. We have permission to Native New native card. So think about all these different ecosystems that are all building on here because of scalable forever and she forever. So I think it was done to architecture. I think keeping it simple. It's going to, it's going to emulate what we see in social networks. You had my spaces friends there as early days. Now, you have Facebook, Instagram, all the ones that we know to use, some of them are massive in terms of Market size. And so, you're probably going to have. These are ones where you

might have three to five different ones with a lot of market share, and then you're probably have a second and third-tier decrease the size of pending on the U skate. So, if you pick social networks, again, maybe there's some new NFC Marketplace, for example, that might be in the bottoms here and hopefully you can, I can kind of scale up. So I don't think it's a zero-sum at all. I think there's plenty of layers to this and that's that's honestly no matter if it is an avalanche future or Neath, your in future near future can in the future. I'm pretty excited for what we have to offer

and what we've all kind of accomplished collectively. Yeah, I definitely agree on the fact that it's not a zero-sum game, you know people think of established protocol code on a box and put it into perspective. So you actually code in Boston or in the point is to really go after the broader developer Community, but I don't know the exact of actual developers out there Riding Hood and the reason is Because it's hard to write, it's hard to actually deploy and make new Stripes. What do you end up? Seeing is Lord of protocols,

getting coffee pasted, over mostly for security reasons because riding oval pill with, and getting it ordered it and getting it tested. It's too long of a development cycle. We're sort of The Cutting Edge that we wrong. So, you know, there's going to be other Solutions out there that will prove to be better because it just means that developers can enter a faster on code and bring and really push forward to Frontier what's possible and apps. And what you can do on a boxing Yeah. So I've been so I run a blotchy and education. Nonprofit. We start courses at University teaching about blocking

development and I have the same exact idea. We need to work with chains or work with people developers and meet them where they are, instead of having them. Try to learn a new, a new language, a new skill. This is why I'm here, supports typescript to write contract rust to write contracts, solidity, dry contracts, and also some contracts. This is like, it's all about how much you can support and how much you can get the community support, the documentation and examples and the education around that those different, you know, so it's just possible today. I heard you

talking about how near can do all this sort of scalability stuff in that. There's a lot of benefits to kneerover other blockchain, but imagine that you're somebody from the audience and you have to interpret amongst all these different Block Chain competing for your attention. Cardano, Solana Finance, marching near Ava kadena, and they all have tokens that you made. Investing and how can you go through and dig through these technical specs rather than being baffled by bullshit and actually evaluate what these boxes are selling them. It's I think in terms of doing due diligence, like look

at the team's, like what what they what they've done before and I know what an amazing team like a great, but 44 near we pretty much hired like a lot of the international Computing, programming competition winners, like the most brilliant people who like to just program all day long, but they built something that is incredible usable. So I guess like a question about the team's check to see if there are projects are actually open source, because I know in this. There's not a lot is actually open source that there's not a lot of community auditing that's possible. I'll make

sure that they're audited by trustworthy Auditors and go to go to check out all this like education. It's available for everybody on YouTube. Go to meet up to talk to trusted people. Don't just follow some account on Twitter, that tells you to buy some certain token because the bill moon-like do your property diligence. And, you know, follow smart people. That's like, so check the backgrounds of the people. Check out the audits. Make sure it's open. Source, Jay. What do you say? I mean, I think that's good. Advice, may be the only other Edition I would use the applications that you want

to use the tools. That's the best education. I've had plenty of times where I've, I've lost funds for smart contract, drug pulls things like that, that to me was a expensive albeit with a good Learning lesson. And then you also and start asking the questions you do it. Well, how come it took? 20 seconds to finalizer? How come it cost this much? And then you're going to start chiseling away at your worldview. And you say I will look into the documentation say, r o. Okay. Well this platform has to have these types of token economics involved and that's what dictates the price of Etc or

experiences. Do you think using the applications has its key here? So use the application? What you say? Well, I guess in the space. It really depends how you want to push it forward. so, like And I respect, it really depends on the approach that you want to take with, you know, skating things out and having to do things. So the last thing I wanted to end this on cuz we only have a few minutes left here is obviously there's been congestion and problems with aetherium not too long ago. I paid over $1,000 for a single transaction on a theory and because of

all this craziness with and if humans, and there's a bunch of competition to get your transactions through and the aetherium network, just cannot keep up with the congestion. But if I'm someone in the audience, I probably wouldn't be willing to pay $1,000 per transaction. Probably won't even be willing to pay $100 for a transaction. If it is so painful to use, then why does near for example, their top app maybe has fifteen or Twenty Thousand active users per month on that radar on David, maybe, fifty thousand or 60,000. If I'm not mistaken in for tonight. I don't even know if they

have any doubts live yet. So if what you're working on genuinely is superior to what aetherium has to offer then. Why hasn't there been a bigger switch yet? It's still super early like everyone here. Finishing the entire way, that money and information flows in the world. Like these things have to be, you know, battle-tested and people are going to fail and things are going to break and hasn't happened on the Jets. And I don't think it will for, you know, whatever, but I'm in shorts. Unfortunately. A lot of the main metric for demand is token price going up.

There's a lot of ways to manipulate that. By the way, the entire Market is over-leveraged and just be careful out there because everything is, at least 4 x leverage right now. And so these things liquidation of markets drop, so, if it's coming up, having a feeling of bailable in certain places, like choking thing listed on the exchanges that are most familiar with and trusted and then the Define liquidity is, is another part of the reason why Lobby stock and prices are going up because it's all one. Hundred percent incentivized engagements us. It's, it's people chasing yield most the time.

It's not super easy for your grandma to get into web free because of management on your every smart to every wallet on near is a smart contracts. We can arbitrarily managed access keys and Abstract Key Management away from the end-users and allow them to claim their wallets later this day and everything is name basis. So, I'm Cameron. Near instead of zero X blah, blah, blah, blah, cut you off. I want to get a chance to speak before. I'll keep my answers short. I think, the reason why some of the ecosystems haven't really gotten

to that that competitive level to eat. If your name is First, the first point that you made being early, of course, but blockchain, crypto an FC. Is it sits? I think we all try and make it seem like it's really easy and it's really not going to think that's what's really complex. There's thousands of coins out there, not all of them have Smart contract, of course. And so just parsing through that information and we're in a bull market right now to answer the signal-to-noise ratio is a lot of noise out there. And so I think as we start calming down a little bit things, a little bit more

comfortable. I'm hoping that people are going to be able to lift their heads up a little bit and really understand. Okay. This is the objective decision. I want to make or versus over over another decision and so and so far. So it's hard. That's why we haven't seen as much switching yet. Yeah. Yeah. Yeah, I mean, it's definitely hard. One of the best pieces of advice is probably just to use your common sense. If you look at his protocol and you don't understand how it works and there's nothing out there that will help you really understand this and not talking to anyone make you

understand this and you're reading a bunch of passwords. There's a good chance that there's nothing wrong with you in a lot wrong with it. Be worried that people will throw these complicated words that you just to confuse you. Yes. Hope you are a Bosworth. I like that advice. So thank you everybody for listening to Jay from avek Amarin from near protocol and Francesca from kadena, and I'm Mitchell from everything. I appreciate you all. Thank you.

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Mitchell Moos
Cameron Dennis
Jay Kurahashi-Sofue
Francesco Melpignano